Business
Finning reports Q1 2026 results
VANCOUVER, British Columbia, May 12, 2026 (GLOBE NEWSWIRE) -- Finning International Inc. (TSX: FTT) (“Finning”, the “Company”, “we”, “our” or “us”) reported first quarter 2026 results today. All monetary amounts are in Canadian dollars unless otherwise stated and all financial information in this earnings release represents the results from continuing operations, unless otherwise noted. (1) HIGHLIGHTSAll comparisons are to Q1 2025 results unless indicated otherwise. Revenue of $2.5 billion was u
About this update from Finning International Inc.
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All monetary amounts are in Canadian dollars unless otherwise stated and all financial information in this earnings release represents the results from continuing operations, unless otherwise noted. (1) ","length":393,"tagName":"p"},{"type":"text","content":" HIGHLIGHTS All comparisons are to Q1 2025 results unless indicated otherwise.","length":77,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue of $2.5 billion was up 2%, led by product support growth in Canada.","length":75,"tagName":"p"}]},{"val":[{"type":"text","content":"Product support revenue increased 6% with growth across all market sectors. Q1 2026 was the 8th quarter in a row of year-over-year product support growth.","length":154,"tagName":"p"}]},{"val":[{"type":"text","content":"SG&A (2) margin (3) was 16.0% and included $15 million of LTIP (2) expense due to strong first quarter share price performance.","length":131,"tagName":"p"}]},{"val":[{"type":"text","content":"EBIT (2) was $188 million and Adjusted EBIT ( 4 )(5) was $204 million, which excluded the impact of $16 million severance costs in South America for headcount reductions related to changes in our organizational structure aimed at simplification and consolidation while strengthening service resiliency.","length":300,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBIT margin (3)(5) was 8.2%, down 20 basis points from Q1 2025 EBIT margin (3) . Adjusted EBIT margin was 11.1% in South America, 8.1% in Canada, and 5.1% in the UK & Ireland.","length":187,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EPS (2)(3)(5) of $1.02 was up 7% from Q1 2025 EPS of $0.95. LTIP expense had a $0.09 impact on Adjusted EPS in Q1 2026 compared to a $0.04 impact on Q1 2025 EPS.","length":170,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted ROIC (2) from continuing operations (3)(5) was 18.7%.","length":62,"tagName":"p"}]},{"val":[{"type":"text","content":"Free cash flow from continuing operations (4) was a use of cash of $310 million, driven primarily by higher payments for inventory. Net debt to Adjusted EBITDA (2)( 3 )( 5 ) at March 31, 2026 was 1.6 times.","length":202,"tagName":"p"}]},{"val":[{"type":"text","content":"Equipment backlog (3) reached a record level of $3.8 billion at March 31, 2026, up 20% from December 31, 2025, driven by order intake outpacing deliveries across all regions, particularly in mining and construction.","length":215,"tagName":"p"}]},{"val":[{"type":"text","content":"In February, our South America operation received a large equipment order from Glencore for the reinitiation of its Alumbrera copper mine in Argentina. This includes the supply of more than 20 large Caterpillar mining trucks along with ancillary equipment and technology support, for delivery expected from Q4 2026 through 2028.","length":328,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1824,"olType":false},{"type":"text","content":"“Our business continues to grow entering 2026 and I would like to extend my gratitude to our employees for their diligent execution of our strategy and unwavering dedication to providing exceptional service to our customers. We are pleased with another quarter of strong product support revenue led by double digit growth in Canada, disciplined cost and capital management, and proactive capture of growth opportunities in the power & energy and rental markets. Through the combination of supportive business activity and our team’s thoughtful execution, we achieved $1.02 in adjusted earnings per share this quarter, which marked a record for Q1. Meanwhile, our equipment backlog reached $3.8 billion at the end of March, bolstered by our recent strategically important equipment orders from mining customers in Argentina and Canada,” said Kevin Parkes, President and CEO.","length":877,"tagName":"p"},{"type":"readMore"},{"type":"text","content":"“Our UK and Ireland business consistently demonstrates resilience and as our South America business navigates a moderated growth environment over the near term, we are proud to see our Canada business carrying forward the baton of growth with refreshed business momentum across all market sectors while carefully managing cost and capital levels to support this accelerated growth.”","length":382,"tagName":"p"},{"type":"text","content":"“Our board approved an increase in our quarterly dividend by 7.4% to $0.325 per share, marking our 25 th consecutive year of growth. 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